S. 45 : Capital gains-Allotment letter-The allottee gets title to property on issue of allotment letter- the payment of instalments is only a follow¬-up action-Taking delivery of possession is only a formality- the date of allotment is the date on which the purchaser of a residential unit can be stated to have acquired the property and not on the date of registration of agreement – Assessable as long term capital gains – Entitle benefit of S. 54F. [S. 2(14),, 2(29A, 2(29B)2(42A), 54, 54F]

S. 16 : Officers and employees, salary, allowances, etc-Termination of service of employee-State Government was not competent authority to refer industrial dispute against petitioners to Industrial Tribunal- Central Government has the jurisdiction-Award passed was set aside.[ Industrial Disputes Act, 1947 S. 2(a)(i)]

S. 281B : Provisional attachment-Pendency of appeal-Stay-Directed the revenue authorities not to enforce the order until a decision is taken by the appellate Authority on stay application filed by the assessee. [Art. 226]

S. 281B : Provisional attachment–Search-Attachment of bank accounts and two immoveable properties-Tax, interest penalties were unlikely to exceed attached two immoveable properties-Directed to lift provisional attachment on bank accounts. [S. 132]

S. 281 : Certain transfers to be void–Attachment of property to recover the tax–Direction of TRO to hand over possession of property is stayed-Assessee directed to appear before TRO and adduce necessary evidence for discharging the liability. [Art. 226]

S. 271(1)(c) : Penalty–Concealment–Sale of good will and Trade of firm is held to be taxable as capital gain-Deletion of penalty is held to be justified.[S. 28(i), 45]

S. 260A : Appeal-High Court–Dismissal of revive petition is held to be valid–Order of Appellate Tribunal is affirmed in absence of demonstrated perversity in the order of Tribunal its finding. [S. 254(1)]

S. 260A : Appeal-High Court–Recalling of its earlier judgment on ground that it contained some factual inadvertent error and judgements relied on without giving an opportunity to the petitioner–Held to be valid. [S. 179]

S. 260A : Appeal–High Court-High Court disposed of appeals against order of reassessment merely on basis of its decision on issue of registration under S. 12A and not on merits-Order was to be set aside and, appeals were to be restored to file of High Court for disposal on merits. [S. 12A, 147, 148]

S. 254(2) : Appellate Tribunal-Rectification of mistake apparent from the record–The order passed under section 254(2) cannot be rectified nor amended by invoking sub-section (2) of section 254 once again-Repetitive applications under section 254(2) of the Act are not permissible. [S. 254(1)]